x
I suppose Class “C” RVs would qualify as well since they are self propelled.
Another thought is how many fifth wheel owners spend more than $12k/year on loan interest on their RV that being the increase in the standard deduction. That would be one crazy expensive fifth wheel or some really bad loan terms.
I’m sure lots more people will moan about the special deductions that will go away. To me since I have rarely been able to itemize it will all be about the bottom line do I owe more or less as a percentage of my income.
Happy filing :cheer:
Ken & Gizzi
Ford 2015 F350 DRW
--
"My Redwood; Go anywhere and always be at home."
"The trouble with trouble is it starts as fun"
"I skate to where the puck is going to be, not where it has been" - Wayne Gretzky
Ken, I think the target was folks that own both a home and an rv.
Certainly puts the benefit back to the motorized side, whose sales have been trickling. Wonder how boats landed - you could always deduct a boat as a second home if it was self contained.
The unfortunate part, is this may drive new towable purchases into home equity loans, which I think led to some of our early recession issues, especially when banks would start loaning 125% of value of a home.
Brad,
From what I understand home equity loan interest went bye bye in ‘18 too.
Ken
x
Brad,
From what I understand home equity loan interest went bye bye in ‘18 too.
Ken
Ah, they got it from both ends.
To me it is all smoke and mirrors by raising the standard deduction by X% Then reducing the total amount by X%. In the end we will still be paying what we paid before and more...... Lets face it way to many thieves running the bank at our expense. What is rightfully ours through hard work seems to be only done for those that have the right to take it away for our best interest. At least that is what they are trying to say. And after seeing the way the different states infrastructures have failed over the last three weeks it is sad to see how this once great country is failing at an alarming rate.
